Target Corporation, the second-biggest discount store retailer in the United States, has announced financial results for the third quarter of the current fiscal.
During the reporting quarter, the retailer noted a 0.9 per cent increase in its comparable sales while GAAP earnings per share (EPS) from continuing operations declined by 17.7 per cent to US $ 0.87 as compared to the third quarter of previous fiscal.
Adjusted EPS also noted a 13.1 per cent decline as compared to the corresponding quarter of fiscal 2016.
According to Brian Cornell, Chairman and Chief Executive Officer of Target Corporation, “Traffic and sales growth during the third quarter is a sign of the progress we saw in the first half of the year.”
“Our investments in the retail business will help the company to note a long-term success,” he added.
Target Corporation recently announced its plans to woo customers ahead of holiday sales. The retailer will not only introduce new brands but also offer free shipping and gifts under US $ 15 to the customers this season.
The retailer has prepared its outlets to provide elevated in-store services to the customers with an increased workforce. It has made investments in wages, training and additional hours for its team.
Target expects flat to two per cent growth in comparable sales during the fourth quarter which is likely to see an impact of the holiday season.
